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Stocks B / Berkshire Hathaway


Subject:  Re: OT CBI and Harvey Date:  8/29/2017  1:31 PM
Author:  rclosch Number:  231444 of 247171

Could you provide a link to the plants being underwater? I have not seen anything in the news. </>

Very little hard news except that several Refiners have announced that they are closed down and under water.

I saw on the weather channel yesterday a clip of workers from CP Chem’s Baytown facility being evacuated by boat because the facility was under water. This story also said the ExxonMobil refinery in that area had been evacuated for the same reason. Most of all of these facilities are located near the coast on very flat land just a few feet above sea level.

I have been to Baytown and was amazed by the size and the number chemical plants, literally hundreds of them worth may billions lining the bayous that feed into Tabbs Bay and eventually Galveston Bay. One of the biggest of bayous, Buffalo Bayou has been subject to very heavy flooding in Houston proper according to the weather channel.

Baytown is on Trinity Bay and so until we see some figures for flood levels in Trinity Bay it will be difficult to estimate how much water got into the chemical facilities. There seems to be no access into the area at the present time, so any estimable as to storm damage at this time is strictly wishful thinking, but it may turn out that insured losses to these Chemical facilities will be much greater that residential losses.

I am certainly no expert water damage to petrochemical plants and the is no historical precedent, but estimates of losses that I have seen to date seem woefully low. And a realistic estimate will have to wait until the water recedes and access to the area is possible.

A good Idea of the size petrochemical facilities in the area can be gained from Google maps. Zoom to Baytown switch to satellite, and zoom along some of the bayous till you can see the names of the companies located in the area.

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